Happy Home announced that Shenzhen Happy Home Investment Co., Ltd., a wholly-owned subsidiary of the company, plans to jointly invest 60 million yuan with the controlling shareholder Guangdong Haoxing Investment and others to establish a joint venture to carry out projects such as coconut shell pre-carbonization materials. Among them, Shenzhen Happy Home invested 30.6 million yuan, accounting for 51%; Haoxing invested 14.4 million yuan, accounting for 24%; Cheng Song, Yang Ronghua, Weng Sumin, and Li Xiaodong invested 4.8 million yuan, 3.6 million yuan, and 3 million yuan respectively, accounting for 8%, 6%, and 5% respectively. This matter constitutes a related transaction, does not constitute a major asset restructuring, and does not need to be submitted to the shareholders' meeting for consideration.

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